Thorburn was previously chairman of CBI Scotland and president of the Chartered Institute of Bankers in Scotland.

Bryson previously spent 27 years at Scottish Provident, including roles as deputy group managing director and group finance director.

Also joining the board on 1 September is PRA deputy head Paul Fisher.

Bank of England governor and PRA board chairman Mark Carney says: “I am delighted to welcome David Thorburn and Dr Norval Bryson to the PRA Board. Each brings valuable and varied experience. David’s considerable expertise in retail and commercial banking will be of great benefit as will Norval’s exposure to the insurance sector and extensive experience as a non-executive director.”

The PRA Board currently consists of four members from the Bank, and five independent members, which includes FCA chief executive Martin Wheatley.